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November 16, 2018 Newsletter 2 min read
Welcome to Credit Union Perspectives, your hub for insights on everything from updated CECL, SEC, and FASB guidance to cybersecurity issues such as identity theft and data security. Subscribe now.

Light up bridges

Q4 2018

From CECL to capital stress testing: What you should know about model validation
As regulators scrutinize financial institutions’ ever-expanding use of models, many organizations are reviewing their model risk management framework to ensure compliance, reduce risk, and improve business results.

Seven questions to help evaluate the strength of your cybersecurity program
Is your cybersecurity program as strong as you think it is? Find out by answering these key questions.

Learn from Leaders
The Detroit Lions, Carhartt, and PVS Chemicals share their best leadership tips.

Plante Moran announces new financial services partner Sherrie Krowczyk-Mendoza
Plante Moran is pleased to announce that Sherrie Krowczyk-Mendoza has joined the firm as a partner in its financial services practice.

Q3 2018

Updates on CECL
On July 25, the Financial Accounting Standards Board (FASB) voted to amend its CECL transition guidance to provide nonpublic business entities (non-PBEs) a later implementation date for CECL.

The new effective date for non-PBEs is expected to be for fiscal years that begin after Dec. 15, 2021. Accordingly, any company that qualifies as a non-PBE would adopt CECL and adjust its opening retained earnings balance as of Jan. 1, 2022.

CECL remains effective for SEC registrants in the fiscal years that begin after Dec. 15, 2019, and PBEs in the fiscal years that begin after Dec. 15, 2020.

How to spot a fraudster 
Occupational fraud continues to cost businesses, some quite severely. In most cases, the perpetrators share several traits and behavior patterns. Be on the lookout for these red flags.

Protect your digital assets with these cybersecurity best practices
Looking for steps you can take to improve your data loss protection? Look no further. These cybersecurity best practices will help you stay a step ahead of hackers and can keep you and your clients safe.

Q2 2018

Spotlight on CECL
ECL guidebook part two: Loss rate calculations of the allowance for loan and lease losses
Wondering how to move forward with the process of adopting CECL? We believe the next step is putting pen to paper and working with the mechanics of a CECL calculation to fully grasp the data needs of the available approaches. 

CECL: Select what’s best for your institution
With the new CECL accounting standard approaching, institutions are re-evaluating their methodologies. The more complex choice isn’t always better. Are you selecting the right methodology for your institution?

How to spot a fraudster
Occupational fraud continues to cost businesses, some quite severely. In most cases, the perpetrators share several traits and behavior patterns. Be on the lookout for these red flags.

Q1 2018

CECL: Our reaction to the regulatory webinar and examples

New lease standard: What you need to know right now
The new lease standard will have broad accounting implications for businesses. Here are the key considerations, steps entities should take now, and a timeline for implementation to ensure a smooth adoption.

Cybersecurity: Taking aim at a fast-moving target
How easy is it to access your personal and professional data? According to Joe Oleksak’s real-time hack, way too easy.

Fostering staff engagement by putting people first
Plante Moran was recently named one of Fortune magazine's "100 Best Companies to Work For" for the 20th year in a row. Why? Because of our people and our environment centered around high-touch relationships, transparency, and trust.